Following on from last week’s blog about marketing with confidence (if you missed it click here), this week I would like to look at how knowing who you are dealing with can help your marketing as well as your business confidence.

As with anything, the more you know about something or someone, the more you be prepared. With preparation then comes excellence and with excellence and praise, comes confidence.

So, do you know your market and your competition? Knowing where your product fits into the marketplace and how your business is doing compared with those other businesses in the same market, can give you real knowledge. Whether your findings are negative or positive, information is key. Knowledge is power, as they say.

Once you know who you are targeting (which is a whole different subject) and who you are competing against can have many benefits for your business, including:

targeting the right customers to sell more

competing effectively to win over disloyal customers and

discovering new business opportunities in the marketplace

How can you get this information?Market research, another different topic. Look online, ask around, check past paperwork and files, distribute questionnaires, buy a report etc.

Market research can be a great way to support and to make decisions. Research can show the demand for your product, the market trends, economic trends, competitor product launch information, pricing changes, customer feedback, new legislation and so on.

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About nicolepinpointmarketing

Nicole is a mum to two, wife to one and friend to many.
I am also the owner of a successful marketing consultancy business, established in 2008 to work with, help and support local businesses.
Pinpoint can act as a consultant or we can hold your hand to manage your marketing or we can do it all for you! Your marketing, your budget, your way. Marketing, organisation, helping and caring are my strong points and passions!